#BRICS The BRICS in difficulty against a strengthened dollar

One of the strategic pillars of the BRICS lies in the diversification of monetary transactions and the implementation of an economic system less dependent on the dollar. However, this increase in the greenback could reverse this trend. A too-rapid appreciation of the dollar would annihilate several years of work on dedollarization. Imported inflation in the BRICS countries, combined with an increase in the cost of dollar-denominated debt, could considerably hinder their economic ambitions.

Moreover, this situation highlights the block's vulnerability to international monetary fluctuations. While China and Russia have attempted to impose the yuan and the ruble as alternatives to the dollar, recent tensions in financial markets reveal that the adoption of these currencies remains limited. A too-strong increase in the greenback could, therefore, revive the dominance of the US financial system, which may reduce the maneuvering room of the BRICS in international transactions.

While the increase in the dollar seems inevitable in the short term, the BRICS will need to accelerate their efforts to counter this new situation. A review of their monetary strategy, combined with strengthened cooperation with other emerging nations, could be considered to limit the impact of this volatility. It remains to be seen whether this rise will be enough to challenge a dollar-dominated system or whether, on the contrary, this new situation will mark a resurgence of the greenback in global trade.